From semiconductors to medical tech, Iran war puts helium users on edge

Beyond oil, the Middle East conflict is fuelling fears of a shortage of helium – a by-product of liquefied natural gas (LNG) production that is critical for semiconductors, aerospace applications and high-end medical equipment.

The medical sector is on alert, as magnetic resonance imaging machines depend on liquid helium to cool their superconducting magnets, and a supply crunch could jeopardise diagnostic services.

“I hope no one needs an MRI this year,” Johnson wrote in a social media post on Tuesday. “The world’s largest producer of liquefied helium is in Qatar and is shut off. We just got a notice that our supply for the year will be at least cut in half. No one could have predicted this (unless they thought about it).”

Helium prices had roughly doubled since the conflict began, Shelley Jang, director of corporate ratings at Fitch Ratings’ branch in Seoul, said on Thursday.

Unlike crude oil or grain, helium is difficult to store. Liquid helium is subject to constant boil-off within a transport window lasting roughly 45 days, meaning the market relies on rapid throughput and logistics, rather than long-term stockpiling.